New home construction in Chilliwack is continuing a torrid pace.

New home construction in Chilliwack is continuing a torrid pace.

New home construction sets torrid pace in Chilliwack

Chilliwack had the most housing starts in June for cities of its size, says Canada Mortgage and Housing

Chilliwack led the way in B.C. for housing starts in June for urban centres in the 50,000 to 99,999 population range, according to Canada Mortgage and Housing.

There were 87 starts in Chilliwack in June – 32 single family homes and 57 multiple units.

Year-to-date numbers put Chilliwack second in the category with 353 total starts, slightly behind Nanaimo which posted 373 starts so far this year.

The numbers reflect a trend not seen in the province since 1990, said Carol Frketich, CMHC’s BC Regional Economist.

“The inventory of new completed and unsold (unabsorbed) homes is extremely low,”  Frketich said. “As well, a lack of existing homes for sale, rising home prices and low rental vacancy rates have spurred new home construction, pushing British Columbia housing starts to historic highs.”

The standalone monthly seasonally adjusted annual rates for urban starts in British Columbia was 47,984 units in June, compared to 34,710 units in May. The June increase was mainly the result of a surge in apartment starts.

There were six communities in the 50,000-99,999 range.

Behind Chilliwack for the month of June was Nanaimo with 54, followed by Kamloops and Vernon with 31 each; Courtenay at 20 and Prince George at 14 starts.

Chilliwack has 16 more housing starts than it did at this time last year – an increase reflected in single family home construction.

Behind Nanaimo and Chilliwack were Kamloops (233), Vernon (191), Prince George (181) and Courtney (128).